If my company terminates me due to shortfall of buisness, am I eligible for gtg all my full & Final settlement alonwith PF on the day of Termination?
Pls update me as our comapny is terminating employees but their Full & Final settlement is getting much longer time and PF also gtg delayed.
From India, New Delhi
Pls update me as our comapny is terminating employees but their Full & Final settlement is getting much longer time and PF also gtg delayed.
From India, New Delhi
Hi,
if your shortfall in business means only your performance, you are eligible for all settlements including your PF, grad (if applicable) and also salary for the notice period as agreed by both in the offer letter.
But if the company is terminating for some disiplinary issues, then its purely companies sole decision.
friends kindly correct me if am wrong !!
Regards
Akila
From India, Madras
if your shortfall in business means only your performance, you are eligible for all settlements including your PF, grad (if applicable) and also salary for the notice period as agreed by both in the offer letter.
But if the company is terminating for some disiplinary issues, then its purely companies sole decision.
friends kindly correct me if am wrong !!
Regards
Akila
From India, Madras
Since he has stated that he is being terminated due to shortage of business the question of termination following disciplinary action will be arise but it is a case of retrenchment. If your company wants to down size the manpower it can do so but following the relevant provisions of the Industrial Disputes Act. As such intimation to retrench employees should be given to the Labour Department. If your company has an employment strength of 100 or more not mere intimation but permission to retrench should be obtained from the government for retrenchment.
Similarly, you will be entitled to retrenchment compensation at the rate of 15 days salary for every completed year of service. This is in addition to gratuity if applicable. Besides, you will also be entitled to one month notice pay if your service is terminated with immediate effect.
Regards,
Madhu.T.K
From India, Kannur
4249Similarly, you will be entitled to retrenchment compensation at the rate of 15 days salary for every completed year of service. This is in addition to gratuity if applicable. Besides, you will also be entitled to one month notice pay if your service is terminated with immediate effect.
Regards,
Madhu.T.K
From India, Kannur
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